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Consider these statements about the AML/CTF Act. (i) A threshold transaction report is required for an electronic transfer of $10,000 between two Australian bank accounts. (ii) A suspicious matter report about possible terrorism financing must be made within 24 hours of forming the suspicion.
Statement (ii) is true: s41(2)(b) of the AML/CTF Act 2006 (compilation 1 Oct 2026) sets 24 hours for suspicions connected with terrorism financing. Statement (i) is false: a threshold transaction in s5 is a transfer of physical currency of $10,000 or more; an electronic transfer between Australian accounts is not a threshold transaction (international transfers are reported separately as IFTIs).
The $10,000 threshold is about physical cash, not every transfer of that size.
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